Subject: The Truth about Bank
Last night I received my mortgage statment. For
the second time in three months,
Bank of America applied my payment after the
end of the grace period, even though my
bank statement shows the transaction was processed
within the grace period.
In this case, Bank of America delayed posting
for 4 days, then charged me a late fee.
When I called to complain, they removed the late
fee without any argument,
blaming the "error" on a "glitch" which they
would be sure and "report".
That's standard behavior for the American whore
Twice in three months is no glitch. Bartcop's
Law #2 applies - when someone makes a mistake
that puts money into their pocket, they will
keep making that mistake. Bank of America suffers
no consequences for trying to rip off their customers.
It costs them nothing to apply the late charge,
or to remove it, but a certain percentage of
their customers will simply pay it, thus PROFIT!
And unlike credit cards, mortgage company customers
are captive. If I get sick of Bank of America's shenanigans,
I can't just move my account. I can't pay off
the balance with another mortgage. If I want to change, it will cost me
thousands of dollars in refinance fees, not to
mention that I doubt I'll obtain a lower rate than I'm now paying.
And even if I did refinance, there's nothing
to stop the new mortgage holder from selling it right back to Bank of America.
That's how I ended up with a BoA loan in the
first place. So I'm stuck with their BS and will probably have to call
six or eight times a year to get them to remove
their fraudulent charges.
Why can't Congress pass a bill empowering mortgage
holders with the ability to transfer a mortgage to another
company without having to pay for a refinance?
If the terms do not change, I should be able to do this. It would
inject real competition into the mortgage industry
and... oh, wait, that's why Congress won't pass a law empowering me,
because it isn't the job of Congress to empower
people. Their job is to pass laws allowing corporations like Bank
of America to legally fleece and rob their customers.
If I tried to steal $30 from Bank of America, I'd be arrested,
but when they try to steal $30 from me, it's
a computer error.
Jeff, changing banks won't help - they're all stealing from all
When they get caught, they deny it.
When you show them proof, they say, "Golly,
gee, you're right," then they don't fix it.
When you call them back, they might fix it, but it usually takes
All the people who missed it or forgot or only called once or twice
get ripped off.
Bank of America did the same thing to me.
Years ago, I went to make a principle payment on my mortgage on New
The teller told me "Yes, I'm still on today's
business," but they waited until Jan 5 to post it.
The bastards tried to steal a YEAR's worth of mortgage interest from
me thru trickery.
You';d think the biggest bank in America would be honest - but nooooooooo.
When I called them on it, they denied it.
When I showed them proof, they say, "Golly,
gee, you're right," but they ddidn't fix it.
When I called them back, they promised to fix it, but I had to threaten
to contact the
Oklahoma State Banking Commission to get the bastards to return my
Bank of America is a crooked company, but I really can't blame them.
They got into banking to steal large amounts of money.
If they were content to steal crumbs, they would've become bakers.
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